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20121201
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CNBC
Dec 14, 2012 3:00pm EST
difficult day for everybody in america, but we do appreciate you watching "street signs." cnbc will have continuing coverage of your markets, all your post-close news and, of course, what is going on in newtown, concome our hearts and prayers go out to all those people affected by that. "closing bell" is next. >> i'm bill griffith. welcome to "closing bell." maria will be along here in a few minutes at the new york stock exchange, and we add our sentiments as we continue to update you on the horrific massacre at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to make a statement on this tragedy from the white house around 3:15 eastern. our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horro
CNBC
Dec 24, 2012 12:00pm EST
called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. >>> if you're just joining us a friendly reminder we're just minutes from closing out the shortened trading day. the bell rings in about 15 minutes. after that there are only four trading days left in the year and as maria will remind you there is still no deal to avoid the fiscal cliff. so what is an investor to do with their money right now? >> let's bring in our guests and our own bob pisani. good to see you guys. thanks for joining us. kevin, what is your take in terms of investing into year end and going into 2013? >> i just think you
CNBC
Dec 21, 2012 3:00pm EST
corporate america is in pretty good shape, that the multi national companies that our colleagues were talking about like nike are still pretty well together, there are things to do with your money for the long-term. count some blessings and don't panic too quickly here. the terrain is very bumpy. but the fundamentals are still holding together. >> all right. we'll leave it there. thanks, gentlemen. we appreciate your time today. >> thank you. >> have a great weekend and to you, as well. we have 50 minutes before the closing bell sounds on wall street. we are off the lows. >> this is an expiration day. it's the last one for the year. we have a lot of volume. also, is this fiscal cliff here sell-off an tint to buy back into the market? we'll get some trading on that, coming up. >>> and with just ten days to go, can congress reach a deal in time? >>> and later, we'll hear from one republican who would have voted no on plan b last night. but congressman mick mulvaney is making a push to cut spending and make a deal. it's all coming up. stay tuned. well, if it isn't mr. margin. mr. margin?
CNBC
Dec 11, 2012 3:00pm EST
of america's top economists has the three most important things you need for investing in 2013. we'll talk to him. >> also ahead, former fed chairman alan greenspan is back. he rebelieves a recession from going over the cliff would be a cheap price to pay to fix our policies. he'll explain why in an exclusive interview with maria coming later on "closing bell." [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399
CNBC
Dec 7, 2012 3:00pm EST
america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with the details. >> tough end of the week ear. it's apple's horrible, awful week. today's decline saw shares hit a real technical weak point, the so-called death cross. that's where the 50-day moving average, the top line in yellow, crossed below the orange line. that's the 200-day moving average. according to the spoke investment group, the last time that happened in septemb
CNBC
Dec 31, 2012 3:00pm EST
america more than doubled the returns of the next best performing dow stock this year. while hp was the biggest loser. will those trends continue next year? or can you expect a reversal of fortune? >>> and we're not finished. after the bell, former dnc chairman howard dean has repeatedly said let's go full speed over the fiscal cliff if we get this deal. does he like it or not? he'll join us coming up. much more to come. don't go anywhere. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, c
CNBC
Dec 19, 2012 3:00pm EST
possibly have in the united states of america, old folks whose cost of living is going up, whose health care have increased, and now we have a formula that was original designed to find out what was the cost of living so that the social security check will be able to be increased to meet the cost of living. now we're doing it backwards. we find out how much money we want to save. incidentally social security was never supposed to be involved in this procedure. how much money do we want to save, and then we say we'll get a formula, and the formula will save us that much money over ten years. it's just not fair to do this to old folks, most of whom are dependant on their checks completely or in part. >> congressman, why should social security not be part of it? people aren't stupid. we all know what the three major drivers of our debt are, medicare, medicaid, social security. social security hasn't been changed. all that's been changed is they changed the eligibility age and that's about it. >> the only reason that it is not supposed to be a part of this because it was agreed that
CNBC
Dec 5, 2012 3:00pm EST
%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the session right now with about 50 minutes left. the dow up 124 points. >> pretty good move. if you can own only one stock in 2013, which one would make you the most money? top fund managers were asked that question. we have their answers. we have names coming up. stay with us. >> get pencil to paper. >>> also ahead, the art of negotiation. we're going to hear from somebody who says a deal on the fiscal cliff could have already been reached if only lawmakers took a page out of wall street's deal making strategy of keeping things behind closed doors. where have we heard that before? >>> plus, secretary tim geithner with us exclusively. will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitam
CNBC
Dec 18, 2012 3:00pm EST
know what your kids are wearing. let's think about this, america. >> my outrage of the day. on that note, thank you so much for watching "street signs." >> that is a thing that makes you go hmm, and we'll see you tomorrow. "closing bell" is next right here on cnbc which is the worldwide leader in business news. >> hi, everybody. we're into the final stretch. welcome to the "closing bell." i'm maria bartiromo with the new york stock exchange. the more wall street washington is rising above, the higher the market goes. >> rejection of how john boehner's plan "b" thatty had came out with today. the major averages are all trading around two-month highs today because it seems like progress is still being made on some kind of a deal. here's where we stand right now. the dow up 98 points, was up 125 at the high, and then the white house rejected and some comments by senate majority leader harry reid on that so-called plan "b" proposal from john boehner, sort of took some of the wind out of the sails. nasdaq still up 1.25%, a 3348 and the s&p 500 index is up 12-plus points right now at 1443
CNBC
Dec 3, 2012 3:00pm EST
, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> an improving economy and superstorm sandy turn out to be a boone for the automakers. >> one automaker did not beat expectations in terms of november auto sales. the automaker who fell short of estimates was general matter, an increase of 3.4%. 2% below what the street was expecting. some important stories that came out today from the auto industry. let's start with ford. 6.5% increase. the company today raising its production in north america for the first quarter by 11% up to 750,000. the most they have produced in the first quarter since 2006. general mot
CNBC
Dec 17, 2012 3:00pm EST
america and you haven't seen any real participation in the financial sector for four or five years. that's one to keep an eye on. you may see a meaningful move. that could be good for the market. >> you don't think it's too late -- >> -- next year in terms of a tax increase. >> bank of america is the best performing this year. it's not too late to get into that? you think there's more to come? >> look at the short-term move and it looks good. look at a five or six year chart and it's a different story. looks like you've got more room on the upside. >> rick santelli, jump in here. what are you seeing in chicago the movement? >> well, if you consider the big story of the year mutual fund flows and how historic they've been in income and how they've been lacking in equities, the big story is that you have basically the last fed meeting. it was somewhat hawkish. and boom you have six-week high yields and fives, tens, thirties. but still a dozen basis points away. dozen points lower than finished last year. same for 10s. 30 year bond is the only instrument that has a higher versus the end of la
CNBC
Dec 13, 2012 3:00pm EST
telling story. bank of america 2013 outlook. they are super bullish and hung a 1600 on the s&p next year and said the biggest downside risk improvement in the u.s. economy because that might get the fed to scale back. that's how you show how dependant we are and what little confidence they have of what's going on in washington. >> does that mean if we get a deal any time soon out of washington that the market rallies and the volatility ends, or what are you expecting? >> i think the volatility will end somewhat at that point. as the other guests have said, i think there is tremendous pent-up risk-on momentum here, and i think it will carry on into the new year. the investments will be worth more dollars. your dollars just might be worth a lot less. >> steve sax, are you seeing any change to the dividend strategy to sort of, you know, tying investment ideas to the tax story like capital gains and what about the dividend strategy? >> we haven't seen that yet, maria, but we will. once we get past the first of the year you'll see a little bit of that buying pressure get relieved. we just tal
CNBC
Dec 6, 2012 3:00pm EST
america economic survey coming up. ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ together for your future. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone g
CNBC
Dec 20, 2012 3:00pm EST
. >> and the best performing stock in the dow this quarter, bank of america. up nearly 30% this quarter alone. remember, folks, 'tis the season for charitable work, and incredible sucking up of long lost relatives. >> hi, grandma. "closing bell" is next. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. the house of representatives voting right now. they have a number of measures to vote on before speaker boehner's plan "b," but we'll continue to monitor capitol hill for any developments. meanwhi meanwhile, i'm here with scott wapner. the market modestly higher despite uncertainty over a fiscal cliff deal. new information coming up in moments. >> good to see you again. scott wapner in today for bill griffiths. less than one hour to go in this trading day. the dow is positive now, just off the highs of the day. good for 39 points. nasdaq's higher, s&p is higher as well at this point. all eyes certainly on the nation's capital though today, maria, and here at the stock exchange. >> absolutely. first, here is what
CNBC
Dec 27, 2012 3:00pm EST
this country, but i'm getting very frustrated with the leaders of this country. >> welcome to america. >> they are teaching us fiscal irresponsibility. want us to pay our mortgage on time, pay our taxes on time when they seem to not be able to do anything on time themselves. >> well, that's a softball for you, rick. >> and the entire argument that, you know, the wealthy, they don't mind. they vote for higher taxes. they don't spend the money anyway. tell that to all the cottage industries, people that help with housework, watch the kids, vacations, airlines, i don't buy into it. i think that's one of the reasons stocks act the way they do. i'll tell you. i have a different slant on this. i'm not a big scott brown follower. i think he's a little different, in my book, but that tweet he sent where the president made the gop a deal and he was jumping on a plane and all of a sudden the white house denied it's true and now we see that the house of representatives, for no apparent tangible reason, going to be back in session on sunday, i personally think scott brown tweeted something he was
CNBC
Dec 10, 2012 3:00pm EST
investors. and what people have lost sight of is almost 70% of all the stock held in america is held by financial institutions and not individuals. we've got to reappraise their role. and finally -- >> go ahead, jack. >> just to complete the thought by saying finally we need some kind of a federal statute, i think, of fiduciary duty for all managers. focuses on long-term, prudent investing. relatively low turnover and low costs. and putting the interest of the clients of these investment managers first. >> you know, they talked about a financial transaction tax in europe and got their heads handed to them as part of the negotiations on their debt. it's not even being talked about in this country as part of the fiscal cliff. what should the transition to the fiscal cliff here? are you sleeping nights thinking about all this? or how are you viewing what's going on in washington right now? >> people ask me what keeps me awake at night. i said nothing is important to keep me awake at night. that doesn't really advance the ball, one might say. you know, i can see the outlines of the fiscal c
CNBC
Dec 26, 2012 3:00pm EST
could do it, if you lived in china. once again, america's proof we are falling behind in infrastructure. thanks for watching "street signs." i'll send it to "closing bell." >> and hello again, everybody. welcome to the "closing bell." i'm mandy drury sitting in for maria bartiromo. happy boxing day as well. >> christmas is over but mandy has been celebrating boxing day all day. we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. the nasdaq hardest hit today. technology has been very volatile recently. still down a fraction right now. 13 points, fraction percentage-wise and the s&p is down 3.33 at 1423. five days lef
CNBC
Dec 17, 2012 4:00pm EST
will be catalysts. she's upgrading citi, bank of america, and discover. those stocks did well today. she upgraded the group today and says the banks right now are more than capitalized. the catalysts for the stocks will be march in 2013 when the fed will release the latest results which will -- she expects, approve the bank's plans to return more capital to shareholders and dividend hikes. after which she's expecting bank of america could quadruple its dividend. and will allow some banks to be more execution dependent than market dependent. a bias we always prefer. so she's upgrading these stocks. she's looking for huge returns in some of these. citi and bank of america and discover are the three names she's upgrading today. also taking a positive stance overall on the financial services sector. meredith whitney will be my guest tomorrow. talking about this call where she upgraded the banks today. she is telling clients this right now. my next guest is one of the most well known analysts due to his early warnings on the 2008 financial crisis. you know he is leaving rochdale securiti
CNBC
Dec 6, 2012 4:00pm EST
we're really going to go over it and change the tax basis, the treasury has to call on corporate america to change the withholding tables. all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal and haven't asked for it yet. you think we're going to get a deal? >> i think they may try to push it to the end. the other thing i'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans
CNBC
Dec 3, 2012 4:00pm EST
bell" on cnbc. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> who doesn't want a special dividend? the hits keep coming. oracle announcing it will accelerate payments on three quarters worth of dividends for investors who hold the stock as of december 14th. now about 100 companies and can counting have announced more than $22.5 billion worth of special dividends in the fourth quarter. presumably to get ahead of higher dividend taxes if the fiscal cliff deal
CNBC
Dec 19, 2012 4:00pm EST
smartest ways to get them made as quickly as pock. >> and i feel like america knows we need to make the changes. medicare has never been changed since it was first put into place. you know, what do you think it's going to take to actually get things done here? i -- does it surprise you that we don't have a deal yet at this time in the calendar? >> i don't know that it surprises me we don't have a deal yet because the unfortunate truth about washington negotiations is anything hard doesn't tend to happen until the very last moment, and let me be honest about that. that has real economic consequences and costs. it's already harm our economy that we're waiting so long, but what i really think we need to see, and you're right, voters outside of washington understand these issues, but we need real honest discussion with the people people where instead of both side pretending that you can get this without the tough choices and going back to the bases and saying there are things you don't like and instead of the conversation always being us and them, two sides fighting it out instead of the co
FOX Business
Dec 18, 2012 3:00pm EST
think we all know that every income-tax dollar in america is going to pay a higher rate come january 1st unless congress acts. tracy: that looked like progress on capitol hill, and it means progress in the market, that is until senator harry reid dump a little bit of water on house speaker john boehner contingency plan now known as planned the. good afternoon. i'm liz claman. is the last hour of trading. a nice move as we head into "countdown to the closing bell." the speakers plant be. along with president obama inching towards higher income threshold for tax cut expiration's the market is charging ahead, but in the last hour senator reid said the proposal from boehner will not pass the senate. the market is surging once again a high of the session up 117 points for the dow, right now better by 97. this is the breadth of the market, overwhelmingly positive meaning the advance is outpacing the decline. the dow jones industrial, as you can see, nice move. twenty-seven down 30 components are up. united technologies and in tela the best performerr. general electric, one of the few weak
FOX Business
Dec 12, 2012 3:00pm EST
can see, pulled back half a percent to the upside at the moment. bank of america, jpmorgan, citigroup, wells fargo, all of them in the green but not as far as they have been. in economically sensitive group. up about 1.5%. similar story for dupont, gold corporation holding onto most of its leads. let's find out what the traders made of it. you were there in the thick of it at the new york stock exchange. >> as you say, he hadn't said hello and left us at the altar started talking. this is the difference between what the policy says and the reality underneath the policy when the fed chairman, ben explains what they're doing. number one is that we determined the advocacy of the e-zines is not doing the trick, they will go to plan b., whatever that is. he said they do not have an unlimited bazooka so to speak to do this. that put a reality on the market. ultimately what will happen is they will put in a lot of money out to the marketplace for some time to come, and now have tied to 6.5% if not lower. the real issue they have, looking at things like the velocity of the money su
CNBC
Dec 26, 2012 4:00pm EST
idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. . >>> we have breaking news in washington. no, not that news but important and sort of in the same ballpark. john harwood has the story. john? >> reporter: related news, bill. part of the administration's earth to put pressure on the cook to do something about the fiscal cliff and the debt ceiling. treasury secretary geithner sent a letter to harry reid, the senate majority leader, saying the united states government will hit its statutory debt limit on december 31st. that is the same day that we would go over the fiscal cliff. n
FOX Business
Dec 10, 2012 3:00pm EST
is out of favor, unloved and, yet, still huge? bank of america. it trades at one fifth of the value of apple. you get ten to 20 times as much in sales or profits and book value. that does not mean it is a great company. it means that the share price already reflects that it is a struggling company. it reflects the fact that apple is a golden success story. it has to remain a golden success story for the coming ten to 20 years. liz: you are so welcome to show people the trends over the years. i am glad we identified exxon mobil. thank you. it is great to have you on the program. ethan allen. a big name out there. has all the comforts of home. it is everything. the retailer is riding the wave of a housing recovery. on top of that, it is dishing out money to shareholders before the end of the year. farooq kathwari on what he fast dividend. his 70 plus stores in china and how good he thinks the holiday shopping season may be. that is next in a fox business exclusive. ♪ can i help you? i heard you guys can ship ground for less than the ups store. that's righ i've learned the only way t
FOX Business
Dec 4, 2012 3:00pm EST
moving higher, banc of america, decent tech names like hewlett-packard flexing their muscles as well. hewlett-packard jumping 3%, $0.56, bottom fishing going on there, some of the story and until up nearly 2%, verizon and at&t are the weak links along with jpmorgan chase. traders at the stock exchange, cme group and nynex, gold traded as well, when gold dropped $26 overnight and continues through the day what was it like, floor? >> those guys were pretty busy today but $26 is not a huge move for $1,700 product. but clearly something is going on. liz: if it goes below $1,700 which is one of those levels gold bugs look at, that becomes a big deal. >> people have a love affair with round numbers. they get infected, $90 crude or $70 gold. they are just another number. gold is a strange party. we talked about a few times. i feel like it is overpriced based on this relationship to something like platinum where platinum traded well over bold and now is different but to see that the dollar is lower and gold is lower there are players who have issues or an agenda and there's a reason bold is
FOX Business
Dec 21, 2012 3:00pm EST
here. we have bank of america and caterpillar. all of that pales in comparison with research in motion. the stock getting taken out to the woodshed. the services business is about 30% of revenue. to be pretty clear about this, research in motion change the pricing model for 2013, and the impression is it the thumbs down. totally different story for investors. the software maker jumping about 4.5% here. better than expected third-quarter numbers. prescription revenues are up year-over-year. we are going to talk about the drivers. something called private cloud with red hat ceo, james whitehurst. what uncertainty is cooking up. we will ask them as a business leader, his perception of ceos who blame the uncertainty for what is happening to their companies and their stocks. okay, when we look at the calendar, almost single digits -- 10 days before we head over the fiscal cliff. it really doesn't look like we're any closer to a deal. now, there is no plan. it is republicans fighting while democrats watch. reporter: that's right. speaker boehner in the face of opposition from dozens o
FOX Business
Dec 14, 2012 3:00pm EST
else would, as a parent. and that was especially true today. i no there is not a parent in america who does not feel the same overwhelming grief that i do. the majority of those who died today were children. beautiful look kids between the ages of five in ten years old. they had their entire lives ahead of them, birthdays congratulations, weddings, kids of a round. among the fallen were teachers, men and women who devoted there lives to helping our children to fill dreams, so our hearts are broken today for the parents and grandparents, sisters and brothers of these children and for the families of the adults or lost. our hearts are broken for the parents of the survivors as well or as blessed as they are to have their children home tonight, they know that their children have had their innocence torn away and there are no words that will ease their pain. as a country we have been through this too many times, whether in elementary school or a shopping mall or a temple in wisconsin or a movie theater or a street corner in chicago. these neighborhoods are our neighborhoods, and these
CNBC
Dec 5, 2012 4:00pm EST
president needs to be helping us come up with a plan that puts america on a long-term, sound basis. paul ryan did that in the house. that plan is sustainable. it changes the debt course of america. the president has yet to lay out anything like that. >> i'll tell you what really struck me in a moment from that interview, but let me keep on with what you're saying. you have called the secretary's claim of $2 in spending cuts for every $1 in tax increases an egregious falsehood. he did say $600 billion in cuts is what is being proposed there. he said it's health care. you said he's not even tinkering with medicare. where are these cuts? >> let me respond to that. they cut providers -- again, these are the hospitals and doctors. $600 billion over ten years. that's a reduction in spending. he's not mentioning the fact that he gives away $1.2 trillion of the sequester. that whole savings that we agreed to as part of the budget control act he eliminates. in other words, that's an additional $1.2 trillion in spending over the current agreement that we're operating under today. it's a $1.2
FOX Business
Dec 19, 2012 3:00pm EST
, europe has itself under control in america is about to. they are the leaders right now. liz: are we at $90?f course thet session. >> we are right there, but i will stick with my gun and say what we said last year. i am a buyer at 85, that is supply and demand thing. with the market the way we are at the end of the year, low volume tends to get in the way. i think financials getting spiked over the year, more of a rally tomorrow but i will stick with my gun, don't think you'll miss the move if you don't get in here at the dollars going forward. i am a buyer at 85, a seller at 90. liz: more than $0.50 away. when we started we were $0.03 away. >> it is a lot easier than it looks, good luck selling $90. liz: $89.51 at the moment. thanks to everybody on the floor show. we'll watch the market so carefully but when you pick apart individual stories the one that has captured the attention of this nation today in a very big way is the facebook instagram story. dollar signs dancing is now turned blurry after a massive pr misstep causing a near revolt giving competitors glittery eyed. facebook
FOX Business
Dec 5, 2012 3:00pm EST
% today. bank of america, as you see, moving higher. the biggest gainer on the dow. jpmorgan solidly in the green. a totally different story at the nasdaq. down on the session. apple getting a 5% haircut at the moment. just under 5%. perhaps tied to the apple, samsung dispute. there is a big court hearing tomorrow. samsung is expected to ask the judge for a brand-new trial. apple down 22% from its september highs. right around the time where the iphone5 with release. the markets showing more conviction today. let's get right to the floor show. i rub, in chicago, i want to start with you. very shallow moves up and down. >> we are getting closer to the mayan calendar. no one is mentioning it, but the reality is that each day we get closer to december 18, that is when you have the real problems looking you in the eye. seeing people the congress does not help. how much of it is the chess game and how much of it is the poker game. that is what we are seeing right now. gold does not know where to go. it has no story. it is concerned with austerity. if we get forced austerity on the economy an
CNBC
Dec 14, 2012 4:00pm EST
global company. what are the ramifications for your company if america shoots itself in the foot, if you will, and goes over this fiscal cliff? >> you know, fiscal cliff is a situation which is very much looked at from the european side because if america goes well, the world goes well, and we hope that this solution will be found, but we're really very much used to last-minute negotiations in our parliamentary governance. maybe the u.s. is not used as much to the last minute, last night, so we're very confident that a solution will be found. >> you think we will get a solution in the 11th hour? >> absolutely. >> that's how america normally does, it i guess. let me ask you. interesting to look around the world and see austerity everywhere you look. we're looking at this subject, whether it's in the united states, in italy, throughout europe. give us your sense of what's going on with the debt situation in italy right now. news today, of course, that the public debt rose above 2 trillion euro for the first time in october. can the government get the debt under control in italy? >>
CNBC
Dec 7, 2012 4:00pm EST
fundamentals in corporate america have been way better than the economy. earnings growth and revenue growth in the s&p 500 has dramatically slowed since the second quarter. i think unfortunately one thing people are missing is that the uncertainty today is going to show up in the fundamentals in the first quarter, maybe even the first half of 2013. we still have a lot of issues in europe. andrea merkel has to get elected in the second half of next year. that's going to make it difficult for any pro-growth solutions to appear in europe. i think, frankly, i'm not that confident that the market hasn't already positively priced in a fiscal cliff resolution. i think the first half is like a bungee jump. >> so dan, cut through all of that, right. if we could put aside trying to forecast where the s&p is going to be, where the dow is going to be, regardless of where the markets in general are going to be, i believe you have stock picks for us. name what they are and will they be able to perform regardless of the macro environment? >> all right. we are focused on. companies that can grow regardless
CNBC
Dec 4, 2012 4:00pm EST
clubs passing out water. that's the nice part. that's what makes america great. we could use a little of that in washington, we might get the fiscal cliff resolved. >> great point to make. tom, good to have you on the program. thanks so much. >> nice to be here. >> thomas wilson joins us, the chairman and ceo of allstate. >>> up next, high-end dreams. we'll talk high-end real estate next. >>> later, sticker shock at the hospital. we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping
CNBC
Dec 12, 2012 4:00pm EST
america, countrywide mortgage had nothing to do with this. this was all the government's fault. >> the government created the conditions where they did what they did, and if the government had kept a stable dollar you never would have needed this currency trading, default swaps and the like, so when you have a bad environment, people try to adjust to it, and the crazy things happen. in the 1970s, ail went from $3 to $40 a barrel and when we conquered the inflation and went back down, and we should do the same thing today. stable dollar, like 60 minutes an hour, thinking that changing minutes in an hour will help stimulate the economy, no. we need stability. >> gentlemen, you have very sufficiently filled eight minutes and i'm sure you could have filled 18 had we given them to you. >> two smart guys with two very different opinions. >> good to see you both. >> thanks. >> see you later. >> thanks for joining us. manpower survey shows businesses will continue to hire in the first quarter of next year with the fiscal cliff looming larger every day. what do these business leaders know that
CNBC
Dec 10, 2012 4:00pm EST
states. i'll let america settle it and figure it out on its own. >> all right. john, what are your clients telling you right now? jeff just said i think it was over the weekend that so many of their customers are clenched right now. that they're just waiting to see what the resolution of the fiscal cliff is that they're holding back on orders. is that the case with some of your clients as well? >> well, i think right now we haven't received the clarity of the election we were hoping for. i think both sides republicans and democrats are basically negotiating behind closed doors. hopefully i think the news over the weekend was a lot better than it had been. moving a little bit. senator corker moving as well. we had better data out of china last week. household net worth increased by $1.7 trillion which was a big number for the fed. it says the bernanke policies are working. in terms of clients what they're doing, obviously there's a lot of clouds on the horizon short-term. but longer term, it's positive. so right now towards the end of the year what we've been seeing is a lot of acco
FOX Business
Dec 26, 2012 3:00pm EST
in the green, bank of america doing some heavy lifting today. it's the one dow stock hitting new highs. good afternoon, everybody, i'm ashley webster, the last hour ever trading, and the count down to the closing bell begins right now. as i said earlier on, appears the bulls had too much eggnog and christmas cheer thanks to the continued uncertainty of washington, no real progress on a debt deal. the house speaker stuck in a blizzard in ohio, but you know what? the dow managed to raise earlier, just up a hint now, just a touch. meanwhile, the nasdaq, the s&p500, and the russell, as you can see, down slightly on the day after christmas. retail stocks are casting a follow on the market, the s&p500, the high end end names, all in the red. we got coach, high end retailers such as tiffany moving lower, ralph lauren, urban jut fitters lower on poor data on sales this holiday season, and it's all due to the latest holiday spending figures that the stocks move lower. sales decreasing at a slow pace since the recession hit in 2008 according to the mastercard survey, the latest one. we'll
CNBC
Dec 27, 2012 4:00pm EST
america who don't think taxes should be raised on the rich are the republicans who work in this building. any time bhth speaker and the republican leader come to the president and say we've got a deal for you. the president's door is always own, and mine is, too. >> the senate is back in session today and a lot of looking backwards, not necessarily looking forwards. certainly not so concise recap of harry reid of where we've been on the negotiations and the lack thereof. spinning going on in washington and not the kind done on an exercise bicycle. eamon. >> not the senate's job to be concise, let alone the senate majority leader. never been known for that. that's not going to change, but what harry reid is saying it's their fault. we already heard from mitch mcconnell, the republican leader, it's their fault, it's the democrats. finger-pointing in washing,ton, but what i heard from speaker bain e. he said we's expecting a new proposal by the president. swu the communication is off on the capitol hill switchboard but mcconnell sounds an awful like a guy that the president will make him a
FOX Business
Dec 27, 2012 3:00pm EST
. money center banks like bank of america down 1 1/4%. goldman down 1%. morgan stanley down .8 of a percent. all those stocks are under pressure. tech stocks notably weak. apple inching to the round 500 dollar level. down to 510. it was north of 700 when iphone 5 came out early september. so the bear market continues to apple. as you can see, google also down, down about five bucks on the day. ibm down slightly a .10 or two. hewlett-packard off today, down one 3/4%. coming up later we have a contrarian investors sees big opportunity for hp in 2013. he nailed down the move in bank of america this year. he said it was the stock to buy. he was right. stick around for what he has to say about hewlett-packard. interesting stuff. what an interesting day. let's look to the floor show. traders at new york stock exchange, the cme group and the nymex. my, oh, my. let's begin with ben willis at the newscy. -- nyse. we had some bias coming in the last half hour. >> as long as washington keeps santa claus hostage we'll continue to see this. "the santa clause" rally hasn't appeared because it has
CNBC
Dec 21, 2012 4:00pm EST
independence in america is a huge theme going forward. there are other themes that are not dependent on the policy, as well. this obesity thing with my generation going into the diabetes year, the diabetes stocks, the handle diabetes, i think it's a very investable theme with long legs. >> steven, let me take it over to you. we had an expiration at the end of the day today. what did you see at the close? >> as you might expect, we saw enormous volume. it didn't move stocks that much. we stayed within the range of the day. 1422 is as clowe as they ever got. you did see some volatility, but nothing like we saw in the overnight futures markets. you saw enormous volume. but things did stabilize. the technology stocks, the financials, those kind of names. and it's been good, like the transports and the utilities are always safe haven. they turned up a little bit, but not so bad. it was a general risk off day, but nothing like the expected coming in. >> and where do you see conviction, steven, when you're watching all the flows and committed buyers out there? where do you see the conviction day i
FOX Business
Dec 17, 2012 3:00pm EST
cannot really have a rally without the financials. check out bank of america flirting with $11 a share. first time they have seen that in 18 months. citigroup also chugging higher. apple, though, let's take a. look, interesting day here once again. it is moving higher on better than expected iphone5 numbers in china. 2 million sold there. morgan stanley pounding the table. ipad and iphone demand remains robust. you need to own apple into the early part of 2013. earlier this morning, first, on the flip side, you have citigroup saying they are downgrading apple. my phone suppliers have cut back on some orders. attention, that donald's shareholders, here, i have one. i will put it on ebay. the race is officially over. we are talking pork, pickles, onions smothered in barbecue sauce. mcdonald's a widely held stock in light of your portfolios and 401(k)s. they bring it back every year for a limited time. look at what it is doing for the stocks. it is up one full percentage point today. it has been kind of a rough couple weeks. the fabulous mcrib, i do not know, is it really a rib? let's get
CNBC
Dec 11, 2012 4:00pm EST
going to get serious? >> washington remains at odds. >> that is a bad strategy for america. it's a bad strategy for your businesses, and it is not a game that i will play. >> but the fiscal cliff still looms. cnbc has called on lawmakers to rise would have gridlock and reach a deal. now, we're beating down their doors. live from our nation's capital, this is a cnbc special report, "mission critical, rise above d.c." >> well, the stock market riding the ups and doups of the fiscal cliff negotiations. roger altman is former treasury official under president clinton. he says he's optimistic that a deal is coming. the question, of course, is when. joining me from new york is roger altman. always nice to have you on the program. let welcome back. >> hi, how are you? >> you think a chance of getting a deal will increase and harry reid says he's pessimistic that had t will get done before christmas. what do you think? >> the financial markets themselves are becoming more optimistic, and i think that's a strong signal. second, i think the atmospherics, and senator reid's statement is just
FOX Business
Dec 20, 2012 3:00pm EST
has been obliterated in america for and parts of the world but particularly in the u.s.. liz: we were showing the volume coat over the past several years, you have seen it volatile but always on a trajectory that is downward and here it is, trading volume on the decline so they have to do something to survive. are you a little win some for the old nasdaq deal $42 a share versus this one which is $33.12 a share? >> i don't know that when some is the word. [talking over each other] >> i am grateful no matter what is going on. the cash equity business, regulation, introduced hyper competition. it fragmented the market, pull off volume, squeezed margins and investors are investing less in cash equity. there has been so much in a way of scandals and regulatory overkill that people kind of walked away, looking at real-estate, new york had to cope with a diminishing high, and cash equities, and it is a smaller pie. they have to merge. to bring their costs down. and lay off their people. ice does get this international future. and it is that pretty good idea. liz: as we finish up, the ma
CNBC
Dec 31, 2012 4:00pm EST
the dow. bank of america. doubled in price this year as the bank improved its financial footing. home depot and disney all saw strong earnings. consumers proved resilient in 2012. jpmorgan another of last year's dogs round out the top five with all big double digit percentage increases. if you look at the numbers, bank of america up a whopping 108%. home depot up 46%. now, hewlett-packard, the dow's second biggest loser in 2011 is this year's worst performer ending the year at a ten-year low down about 45%. after its ceo and accounting scandals. intel struggling with the slowdown in pcs. shares down about 15%. and last year's best dow performer mcdonald's posting a double digit loss this year. dupont and caterpillar round out the top five of losses. >> thank you. >>> when we come back, we've got some wild predictions for technology in the new year. how about facebook buying netflix? how about microsoft taking over research in motion? and wait until you hear what experts are saying about apple. >>> and what are the best bets for the market in the new year? three of wall street's
CNBC
Dec 18, 2012 4:00pm EST
because if he does, that all of us here, all of us all over america, will be a lot better off. we all win if he wins, so let's understand politics are over. the election is over. it's been decided. he's it. mr. president, i want you to be the very best that's ever sat in the white house, but we now have to come to the issue of when we deal with our structural problem, and we have a very serious structural problem. what is it? >> spending. >> well, we need entitlement reform. take away social security from guys like me. raise my taxes. nothing will change in my life, and i speak for a lot of people i know. i say -- when i say i speak, i'm in the same position as a lot of other people i know. >> are you saying $250,000 group or 1 million group? this is the debate right now. >> no. what i'm saying is do something to not disturb the taxes that people at 250 and under are paying. leave them alone. now they are off the table because the president keeps saying what a horrible thing to force these people to pay higher taxes. there's got to be a creative legislative way to deal with that.
CNBC
Dec 13, 2012 4:00pm EST
clients talking about how bad the federal government balance sheet is, but corporate america has great balance sheets. there's a lot going on that's positive, energy, reshoring, businesses coming back. just stay away from the long-term bonds. short-term bonds and alternative strategies >> i know what you're saying and i get that because it's true. the corporate sector is probably the best part of this recovery. 3.6 trillion in cash, lean and mean, corporate america ready to lead once again, but the question is am i going to be able to buy stocks at much lower levels, so are we going to have a 100, an 800, 1,000-point decline if we go over the fiscal cliff? >> that's a great point. >> maria, we're not trading, right? that's always the question in the market. we have to use volatility to pick up positions and add to equity, and this is a long-term gape. we've become so short-term focused. got to stay focused long term and add on volatility. >> one of the things i'll add, we either most confident insecure people in the world and when we know based on our history and based on what we know
FOX Business
Dec 31, 2012 3:00pm EST
about 12% for the year. and of the one out there that has done just beautifully, bank of america. on your screen, leading the way up more than 104% year-over-year. so now the question many investors face is whether you double down on financials, or you take your marbles, your profits, and go home? will it continue into 2013, this party? app on the schutz is joining me in a fox business exclusive on the phone from rochester, new york. as you prepare for your new year's eve celebration, anton, we so appreciated you joining us on the phone. 104% gain, do you double down or say, okay, that can't happen twice? >> well, 104% isn't going to happen in 2013. however, there still is quite a bit of upside in bank of america. it dropped tremendously over the last couple of years leading into last year. there's a lot of tax laws at the end of last year which drove it down to $5 a share. obviously this year anybody who's bought it in the last year has had some pretty good gains. this stock was $18 just a couple of years ago and can certainly get back into the mid to upper teens. what it needs
FOX Business
Dec 13, 2012 3:00pm EST
america and frankly the united states as well. liz: the competitor, cisco coming in, they want into the optical switch business ramping up, how would you stay ahead of them? >> they're very specialist player. we're not trying to be all things to all people. as such we have a lot of leading technology in this space and already won a lot of the major deals ready to roll out. tracy: are you hiring now going forward? here in the u.s.? speaker yes, we're actually doing some hiring in the united states. liz: good to see you, have a happy holiday. >> thank you, you two. liz: 46% over the past year. gary smith saying they have a good year ahead. the fed are going after a star in the hedge fund world through employee who left the company two years ago going so hard to the point they want a former employee to flip and cooperate with the investigation. charlie gasparino has the latest on the screws content to be tightened. you need to see this story. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significa
CNBC
Dec 20, 2012 4:00pm EST
today, bank of america and citigroup. transports are near a 52-week high. railroads strong, kansas city southern and delta on fire. that stock is up 20% in the last few weeks and jetblue also doing well on top of that. deal of the week, of course, you know the new york stock exchange. maybe it's the deal of the month. 33.12 and ended a little bit before for that the nyc/i.c.e. deal and of course what we don't know is the name of the new company. let's hope it has nyse in it. >> thanks. we want to slip in on a quick break and get those numbers out for the fourth quarter. house getting set to vote on the proposal. daniels took his state from deficit to surplus his few year in washington. i'll ask him what washington has to do. today morse will making agawa becoming the most popular group and what one member thinks of the i.c.e. negotiation. back in a moment. . >>> welcome back. to hammer out a debt deal, they may want to take a page from indiana's playbook. the state has about $2 billion in cash reserves and an estimated half a billion surplus heading into the new year. outgoing gove
CNBC
Dec 28, 2012 4:00pm EST
should take that money and put it to work. simply because when you look at corporate america, the average company, bill, is generating a 16% to 17% return on equity, record free cash margins and a federal reserve that has the pedal to the metal. what you and i have talked about before repeatedly, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does. >> big fan of rick. >> this is such a perverse world we live in, okay. let's look as what's happening. down 158 in stocks and that pushed the ten-year yield under 170, okay. >> really. let me get this straight. they can't get a deal on controlling out-of-control debt, so rates go down. i used to trade during graham/rudman and i remember when they couldn't get deficit conversations right, treasuries went down and stocks went down. oh, would i love to get back to that type of reality. >> yeah. but you had a different guy at the federal reserve at the time. >> yeah, a
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